Caixin
May 17, 2022 05:07 PM
WORLD

Thailand Cuts 2022 GDP Outlook on Ukraine War, China Slowdown

Thailand said it sees gross domestic product expanding 2.5% to 3.5% in 2022.  Photo: Bloomberg
Thailand said it sees gross domestic product expanding 2.5% to 3.5% in 2022. Photo: Bloomberg

(Bloomberg) — Thailand’s main economic forecasting agency lowered its growth estimate for this year, and raised its inflation expectations, due to the impacts on the global economy from Russia’s war in Ukraine and a slowdown in China.

The National Economic and Social Development Council said Tuesday that it sees gross domestic product expanding 2.5% to 3.5%, lowering its outlook range by a full percentage point from its previous estimate.

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